Loan Program

Types of Loans

Fix & Flip

Loan amounts up to 90% of purchase and 90% of rehab cost for the purchase, renovation and sale of residential, multifamily and small commercial properties

Bridge Financing

Short-term financing for quick acquisitions and properties that are not financeable through conventional loans until repairs are completed

Construction

Ground up construction financing with loan amounts up to 100% of construction cost of residential, multifamily and small commercial properties

Why Work with Us?

Direct Lender

Since we are not brokers and loans are funded ‘in-house,’ decisions are made quickly and efficiently with limited documentation.

Pre-Construction Advance

Orchard Funding will advance up to 1/3 of the construction budget prior to any work being done. Our program doesn’t work off of reimbursements. Unlike other lenders, construction can be entirely funded without coming out of pocket.

Quick Draw Process

Some lenders may take 2 to 3 weeks to reimburse completed construction work, however, Orchard Funding will release construction draws within 3-4 business days upon request thus preventing constructions delays.

No Hidden or Junk Fees

Orchard Funding does not charge any junk fees, typically referred to as Doc Fee, Processing Fee, Underwriting Fee or Fund Control Fee.

Lower Overall Cost

Orchard Funding saves the borrower money because interest is only charged on advanced funds, not on unreleased construction funds. We don’t have a prepayment penalty and only require 60 days of interest with our ‘no points’ loan program. We also do not charge any junk fees and our quick draw process on construction funds saves the borrower time and in turn, overall cost.

Fast Funding

Orchard Funding is able to close within 7-10 business days with a pre-closing appraisal. Certain loans qualify for a post-closing appraisal or even no appraisal at all, allowing for a 2-3 business day closing. Appraisals are not required in the Phoenix Metro area, enabling funding in as little as 24 hours, including Trustee’s Sale purchases.

Terms

Orchard Funding offers multiple leverage options to suit different investment strategies

Low Leverage

Loan amounts up to 80% of the purchase price

Rates starting at 8% with 2% loan origination fee or 12% rate with no origination fee

Loan amount not to exceed 65% of the As Complete Value

Mid Leverage

Loan amounts up to 85% of the purchase price or 75% of purchase price and 75% of rehab costs

Rates starting at 9% with 2% loan origination fee or 13% without loan origination fee

Loan amount not to exceed 70% of the As Complete Value

High Leverage

Loan amounts up to 90% of the purchase price plus up to 90% of the repair costs

Rates starting at 10% and 2% loan origination fee or 14% without loan origination fee

Loan amount not to exceed 75% of the As Complete Value

Loan Criteria

Loan Amounts: $100,000 to $3,000,000 for residential properties and up to $7,500,000 for multifamily and commercial

Loan Term: 6 to 12 months with extensions available

Lien Position: 1st Deed of Trust only

Location: Arizona, California, Colorado, Texas, Utah, Washington and Oregon

Property Types: Non-owner occupied residential, multifamily and small commercial

Borrower Qualifications: Relevant experience, adequate reserves and good credit

Transaction Types: Purchase and refinance

Loan Process

1

Apply

Apply now using our short, online loan application page or contact us at (888) 302-0619.

2

Quote

Upon receipt of the loan application, we will provide a detailed loan proposal, typically within a few hours.

3

Pre-Approval

Orchard Funding only needs a few items to issue a loan pre-approval: credit check, bank statement/source of funds, short description of experience and review of the preliminary project details.

4

Underwriting

The loan is ready to enter final underwriting when the appraisal is in, property insurance has been verified and the title commitment is ready. Final underwriting takes less than a day.

5

Fund

Once the loan documents are signed, we will be ready to fund and close your loan!